Shares of Intuitive jump on FDA approval of new surgical robot

A surgeon uses an early version of Intuitive Surgical's robotic system. (Associated Press)

Shares of Intuitive Surgical Inc. jumped more than 12% Tuesday after the Sunnyvale company said the Food and Drug Administration had approved the latest version of its robotic surgical system.

The company said in a statement that its new Da Vinci Xi system has longer, thinner arms that provide greater range of motion and can be used in more types of procedures than earlier models.

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"Our goal is to develop technology that enhances surgical performance," said Gary Guthart, Intuitive's president and chief executive. "The da Vinci Xi System's new overhead architecture means that multi-quadrant surgery can be performed without repositioning the system, an innovation long sought by surgeons who perform complex procedures."

Intuitive shares were up $55.17, or nearly 13%, to $493.16 at 11:20 a.m. PDT.